Technical Analysis Report - USD/JPY
10/08/2016 // 04:22:34 am
The USD continues to hold the regime and favourite of the traders because of the strong Labour data released in the USA.
The currency pair USD/JPY ended on a bearish note. The dollar bounced back from the resistance 102.50 which is saved by the sellers. The resistance is observed at 102.50, the support stands in at 101.40.
MACD indicator stands at the centerline. RSI is neutral.
The 4-hours chart points that the price was struggling with the 50-EMA. The pair made an attempt to breach the EMA failed and the instrument returned below.
We expect that if the price moves above 102.50, then this could move upward to103.50. Else, the USD/JPY will decline to 101.40.
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